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Glenmede Separately Managed Accounts

Glenmede Separately Managed Accounts

As of 10/31/24
QTD
YTD
1 Year
3 Year
5 Year
10 Year
Since Inception
Inception Date
Small Cap Equity (gross)
-2.00 %
8.10 %
29.50 %
6.13 %
13.85 %
9.78 %
11.26 %
03/31/1991
Small Cap Equity (net)
-2.08 %
7.22 %
28.24 %
5.08 %
12.73 %
8.70 %
10.38 %
03/31/1991
Russell 2000 Index
-1.44 %
9.56 %
34.08 %
-0.05 %
8.50 %
7.94 %
9.40 %
03/31/1991
Strategic Equity (gross)
-0.32 %
12.37 %
29.20 %
7.47 %
12.31 %
12.19 %
10.00 %
03/31/2004
Strategic Equity (net)
-0.38 %
11.68 %
28.26 %
6.68 %
11.48 %
11.37 %
9.18 %
03/31/2004
S&P 500 Index
-0.91 %
20.97 %
38.02 %
9.08 %
15.27 %
13.00 %
10.33 %
03/31/2004
Equity Income (gross)
-0.39 %
12.44 %
25.78 %
7.31 %
11.17 %
10.63 %
9.85 %
12/31/2004
Equity Income (net)
-0.45 %
11.75 %
24.86 %
6.51 %
10.35 %
9.81 %
9.04 %
12/31/2004
S&P 500 Index
-0.91 %
20.97 %
38.02 %
9.08 %
15.27 %
13.00 %
10.26 %
12/31/2004
Russell 1000 Value Index
-1.10 %
15.39 %
30.97 %
6.85 %
10.14 %
8.87 %
8.01 %
12/31/2004
Fact Sheet
Commentary
Small Cap Equity
Strategic Equity
Equity Income
As of 10/31/24
QTD
YTD
1 Year
3 Year
5 Year
10 Year
Since Inception
Inception Date
Quantitative U.S. Large Cap Core Equity (gross)
-1.18 %
12.90 %
28.24 %
5.79 %
11.22 %
10.46 %
9.93 %
03/31/2002
Quantitative U.S. Large Cap Core Equity (net)
-1.24 %
12.21 %
27.31 %
5.01 %
10.40 %
9.65 %
9.12 %
03/31/2002
Russell 1000 Index
-0.70 %
20.33 %
38.07 %
8.12 %
15.00 %
12.75 %
9.55 %
03/31/2002
Quantitative U.S. Large Cap Growth Equity (gross)
-1.10 %
15.25 %
35.13 %
7.03 %
15.07 %
14.14 %
13.03 %
12/31/2002
Quantitative U.S. Large Cap Growth Equity (Net)
-1.16 %
14.54 %
34.15 %
6.24 %
14.22 %
13.30 %
12.19 %
12/31/2002
Russell 1000 Growth Index
-0.33 %
24.14 %
43.77 %
8.84 %
19.00 %
16.18 %
12.73 %
12/31/2002
Quantitative U.S. Large Cap Value Equity (gross)
-1.41 %
13.80 %
27.42 %
7.22 %
10.57 %
#N/A %
9.26 %
04/30/2015
Quantitative U.S. Large Cap Value Equity (net)
-1.47 %
13.11 %
26.49 %
6.42 %
9.75 %
#N/A %
8.45 %
04/30/2015
Russell 1000 Value Index
-1.10 %
15.39 %
30.97 %
6.85 %
10.14 %
8.87 %
9.03 %
04/30/2015
Quantitative U.S. Small Cap Equity (gross)
-3.99 %
10.93 %
35.55 %
8.51 %
13.79 %
#N/A %
10.23 %
11/30/2017
Quantitative U.S. Small Cap Equity (net)
-4.07 %
10.02 %
34.24 %
7.44 %
12.68 %
#N/A %
9.22 %
11/30/2017
Russell 2000 Index
-1.44 %
9.56 %
34.08 %
-0.05 %
8.50 %
7.94 %
6.66 %
11/30/2017
Quantitative International Equity (Gross)
-3.97 %
11.64 %
27.36 %
6.51 %
7.66 %
5.38 %
7.05 %
11/30/1988
Quantitative International Equity (Net)
-4.04 %
10.95 %
26.43 %
5.72 %
6.86 %
4.60 %
6.45 %
11/30/1988
MSCI World ex US Index
-5.10 %
7.33 %
23.83 %
2.81 %
6.55 %
5.30 %
5.01 %
11/30/1988
Quantitative U.S. Total Market Equity (gross)
-0.67 %
13.07 %
26.13 %
4.82 %
12.37 %
10.67 %
9.10 %
12/31/2006
Quantitative U.S. Total Market Equity (net)
-0.75 %
12.14 %
24.91 %
3.72 %
11.10 %
9.36 %
7.80 %
12/31/2006
Russell 3000 Index
-0.73 %
19.75 %
37.86 %
7.64 %
14.60 %
12.44 %
10.05 %
12/31/2006
Quantitative U.S. Long/Short Equity (gross)
-0.07 %
10.81 %
9.90 %
8.92 %
7.60 %
5.44 %
4.37 %
11/30/2006
Quantitative U.S. Long/Short Equity (net)
-0.17 %
9.68 %
8.55 %
7.59 %
6.28 %
4.14 %
3.08 %
11/30/2006
Russell 3000 Index
-0.73 %
19.75 %
37.86 %
7.64 %
14.60 %
12.44 %
10.07 %
11/30/2006
70 FTSE 3-Month U.S. T-Bill/ 30 Russell 3000
0.43 %
4.62 %
5.59 %
3.78 %
2.44 %
1.71 %
1.37 %
11/30/2006
Environmental Accountability (gross)
-0.80 %
11.78 %
28.29 %
5.14 %
11.45 %
#N/A %
12.24 %
12/31/2015
Environmental Accountability (net)
-0.86 %
11.10 %
27.35 %
4.36 %
10.62 %
#N/A %
11.41 %
12/31/2015
Russell 1000 Index
-0.70 %
20.33 %
38.07 %
8.12 %
15.00 %
12.75 %
14.13 %
12/31/2015
Quantitative U.S. Large Cap Faith-Based Equity (gross)
-0.87 %
12.05 %
32.34 %
7.31 %
12.63 %
10.94 %
10.51 %
06/30/2008
Quantitative U.S. Large Cap Faith-Based Equity (net)
-0.93 %
11.37 %
31.37 %
6.51 %
11.79 %
10.12 %
9.69 %
06/30/2008
Russell 1000 Index
-0.70 %
20.33 %
38.07 %
8.12 %
15.00 %
12.75 %
11.65 %
06/30/2008
Women in Leadership U.S. Equity (gross)
-0.57 %
15.21 %
32.19 %
6.70 %
11.76 %
#N/A %
12.09 %
12/31/2015
Women in Leadership U.S. Equity (net)
-0.63 %
14.51 %
31.23 %
5.91 %
10.93 %
#N/A %
11.27 %
12/31/2015
Russell 1000 Index
-0.70 %
20.33 %
38.07 %
8.12 %
15.00 %
12.75 %
14.13 %
12/31/2015
Environmental Accountability Portfolio – Low Carbon (gross)
-0.79 %
12.71 %
30.06 %
5.12 %
11.48 %
11.08 %
12.50 %
09/30/2013
Environmental Accountability Portfolio – Low Carbon (net)
-0.85 %
12.02 %
29.11 %
4.34 %
10.66 %
10.26 %
11.67 %
09/30/2013
Russell 1000 Index
-0.70 %
20.33 %
38.07 %
8.12 %
15.00 %
12.75 %
13.44 %
09/30/2013
Environmental Accountability (gross)
-0.80 %
11.78 %
28.29 %
5.14 %
11.45 %
#N/A %
12.24 %
12/31/2015
Environmental Accountability (net)
-0.86 %
11.10 %
27.35 %
4.36 %
10.62 %
#N/A %
11.41 %
12/31/2015
Russell 1000 Index
-0.70 %
20.33 %
38.07 %
8.12 %
15.00 %
12.75 %
14.13 %
12/31/2015
Fact Sheet
Commentary
Quantitative U.S. Large Cap Core Equity
Quantitative U.S. Large Cap Growth Equity
Quantitative U.S. Large Cap Value Equity
Quantitative U.S. Small Cap Equity
Quantitative International Equity
Quantitative U.S. Total Market Equity
Quantitative U.S. Long Short Equity
Environmental Accountability
Quantitative U.S. Large Cap Faith Based Equity
Women in Leadership U.S. Equity
Environmental Accountability Portfolio – Low Carbon
Environmental Accountability
As of 10/31/24
QTD
YTD
1 Year
3 Year
5 Year
10 Year
Since Inception
Inception Date
Secured Options (gross)
0.11 %
11.30 %
16.90 %
5.49 %
7.95 %
7.46 %
7.39 %
12/31/2003
Secured Options (Net)
0.07 %
10.80 %
16.27 %
4.91 %
7.30 %
6.74 %
6.72 %
12/31/2003
CBOE Buywrite Index
-0.50 %
12.99 %
18.52 %
4.61 %
6.05 %
6.39 %
5.70 %
12/31/2003
CBOE Putwrite Index
-0.49 %
12.94 %
17.95 %
6.80 %
8.58 %
7.21 %
7.13 %
12/31/2003
Global Secured Options (gross)
-0.44 %
13.04 %
22.51 %
6.89 %
8.41 %
#N/A %
7.66 %
04/30/2017
Global Secured Options (Net)
-0.49 %
12.53 %
21.85 %
6.31 %
7.76 %
#N/A %
6.96 %
04/30/2017
MSCI ACWI
-2.25 %
16.00 %
32.79 %
5.51 %
11.08 %
9.06 %
10.31 %
04/30/2017
Fact Sheet
Commentary
Secured Options
Global Secured Options
Small Cap Equity
As of 10/31/24
QTD
-2.00 %
YTD
8.10 %
1 Year
29.50 %
3 Year
6.13 %
5 Year
13.85 %
10 Year
9.78 %
Since Inception
11.26 %
Inception Date
03/31/1991
As of 10/31/24
QTD
-2.08 %
YTD
7.22 %
1 Year
28.24 %
3 Year
5.08 %
5 Year
12.73 %
10 Year
8.70 %
Since Inception
10.38 %
Inception Date
03/31/1991
As of 10/31/24
QTD
-1.44 %
YTD
9.56 %
1 Year
34.08 %
3 Year
-0.05 %
5 Year
8.50 %
10 Year
7.94 %
Since Inception
9.40 %
Inception Date
03/31/1991
Fact Sheet
Commentary
Strategic Equity
As of 10/31/24
QTD
-0.32 %
YTD
12.37 %
1 Year
29.20 %
3 Year
7.47 %
5 Year
12.31 %
10 Year
12.19 %
Since Inception
10.00 %
Inception Date
03/31/2004
As of 10/31/24
QTD
-0.38 %
YTD
11.68 %
1 Year
28.26 %
3 Year
6.68 %
5 Year
11.48 %
10 Year
11.37 %
Since Inception
9.18 %
Inception Date
03/31/2004
As of 10/31/24
QTD
-0.91 %
YTD
20.97 %
1 Year
38.02 %
3 Year
9.08 %
5 Year
15.27 %
10 Year
13.00 %
Since Inception
10.33 %
Inception Date
03/31/2004
Fact Sheet
Commentary
Equity Income
As of 10/31/24
QTD
-0.39 %
YTD
12.44 %
1 Year
25.78 %
3 Year
7.31 %
5 Year
11.17 %
10 Year
10.63 %
Since Inception
9.85 %
Inception Date
12/31/2004
As of 10/31/24
QTD
-0.45 %
YTD
11.75 %
1 Year
24.86 %
3 Year
6.51 %
5 Year
10.35 %
10 Year
9.81 %
Since Inception
9.04 %
Inception Date
12/31/2004
As of 10/31/24
QTD
-0.91 %
YTD
20.97 %
1 Year
38.02 %
3 Year
9.08 %
5 Year
15.27 %
10 Year
13.00 %
Since Inception
10.26 %
Inception Date
12/31/2004
As of 10/31/24
QTD
-1.10 %
YTD
15.39 %
1 Year
30.97 %
3 Year
6.85 %
5 Year
10.14 %
10 Year
8.87 %
Since Inception
8.01 %
Inception Date
12/31/2004
Fact Sheet
Commentary
Quantitative U.S. Large Cap Core Equity
As of 10/31/24
QTD
-1.18 %
YTD
12.90 %
1 Year
28.24 %
3 Year
5.79 %
5 Year
11.22 %
10 Year
10.46 %
Since Inception
9.93 %
Inception Date
03/31/2002
As of 10/31/24
QTD
-1.24 %
YTD
12.21 %
1 Year
27.31 %
3 Year
5.01 %
5 Year
10.40 %
10 Year
9.65 %
Since Inception
9.12 %
Inception Date
03/31/2002
As of 10/31/24
QTD
-0.70 %
YTD
20.33 %
1 Year
38.07 %
3 Year
8.12 %
5 Year
15.00 %
10 Year
12.75 %
Since Inception
9.55 %
Inception Date
03/31/2002
Fact Sheet
Commentary
Quantitative U.S. Large Cap Growth Equity
As of 10/31/24
QTD
-1.10 %
YTD
15.25 %
1 Year
35.13 %
3 Year
7.03 %
5 Year
15.07 %
10 Year
14.14 %
Since Inception
13.03 %
Inception Date
12/31/2002
As of 10/31/24
QTD
-1.16 %
YTD
14.54 %
1 Year
34.15 %
3 Year
6.24 %
5 Year
14.22 %
10 Year
13.30 %
Since Inception
12.19 %
Inception Date
12/31/2002
As of 10/31/24
QTD
-0.33 %
YTD
24.14 %
1 Year
43.77 %
3 Year
8.84 %
5 Year
19.00 %
10 Year
16.18 %
Since Inception
12.73 %
Inception Date
12/31/2002
Fact Sheet
Commentary
Quantitative U.S. Large Cap Value Equity
As of 10/31/24
QTD
-1.41 %
YTD
13.80 %
1 Year
27.42 %
3 Year
7.22 %
5 Year
10.57 %
10 Year
#N/A %
Since Inception
9.26 %
Inception Date
04/30/2015
As of 10/31/24
QTD
-1.47 %
YTD
13.11 %
1 Year
26.49 %
3 Year
6.42 %
5 Year
9.75 %
10 Year
#N/A %
Since Inception
8.45 %
Inception Date
04/30/2015
As of 10/31/24
QTD
-1.10 %
YTD
15.39 %
1 Year
30.97 %
3 Year
6.85 %
5 Year
10.14 %
10 Year
8.87 %
Since Inception
9.03 %
Inception Date
04/30/2015
Fact Sheet
Commentary
Quantitative U.S. Small Cap Equity
As of 10/31/24
QTD
-3.99 %
YTD
10.93 %
1 Year
35.55 %
3 Year
8.51 %
5 Year
13.79 %
10 Year
#N/A %
Since Inception
10.23 %
Inception Date
11/30/2017
As of 10/31/24
QTD
-4.07 %
YTD
10.02 %
1 Year
34.24 %
3 Year
7.44 %
5 Year
12.68 %
10 Year
#N/A %
Since Inception
9.22 %
Inception Date
11/30/2017
As of 10/31/24
QTD
-1.44 %
YTD
9.56 %
1 Year
34.08 %
3 Year
-0.05 %
5 Year
8.50 %
10 Year
7.94 %
Since Inception
6.66 %
Inception Date
11/30/2017
Fact Sheet
Commentary
Quantitative International Equity
As of 10/31/24
QTD
-3.97 %
YTD
11.64 %
1 Year
27.36 %
3 Year
6.51 %
5 Year
7.66 %
10 Year
5.38 %
Since Inception
7.05 %
Inception Date
11/30/1988
As of 10/31/24
QTD
-4.04 %
YTD
10.95 %
1 Year
26.43 %
3 Year
5.72 %
5 Year
6.86 %
10 Year
4.60 %
Since Inception
6.45 %
Inception Date
11/30/1988
As of 10/31/24
QTD
-5.10 %
YTD
7.33 %
1 Year
23.83 %
3 Year
2.81 %
5 Year
6.55 %
10 Year
5.30 %
Since Inception
5.01 %
Inception Date
11/30/1988
Fact Sheet
Commentary
Quantitative U.S. Total Market Equity
As of 10/31/24
QTD
-0.67 %
YTD
13.07 %
1 Year
26.13 %
3 Year
4.82 %
5 Year
12.37 %
10 Year
10.67 %
Since Inception
9.10 %
Inception Date
12/31/2006
As of 10/31/24
QTD
-0.75 %
YTD
12.14 %
1 Year
24.91 %
3 Year
3.72 %
5 Year
11.10 %
10 Year
9.36 %
Since Inception
7.80 %
Inception Date
12/31/2006
As of 10/31/24
QTD
-0.73 %
YTD
19.75 %
1 Year
37.86 %
3 Year
7.64 %
5 Year
14.60 %
10 Year
12.44 %
Since Inception
10.05 %
Inception Date
12/31/2006
Fact Sheet
Commentary
Quantitative U.S. Long Short Equity
As of 10/31/24
QTD
-0.07 %
YTD
10.81 %
1 Year
9.90 %
3 Year
8.92 %
5 Year
7.60 %
10 Year
5.44 %
Since Inception
4.37 %
Inception Date
11/30/2006
As of 10/31/24
QTD
-0.17 %
YTD
9.68 %
1 Year
8.55 %
3 Year
7.59 %
5 Year
6.28 %
10 Year
4.14 %
Since Inception
3.08 %
Inception Date
11/30/2006
As of 10/31/24
QTD
-0.73 %
YTD
19.75 %
1 Year
37.86 %
3 Year
7.64 %
5 Year
14.60 %
10 Year
12.44 %
Since Inception
10.07 %
Inception Date
11/30/2006
As of 10/31/24
QTD
0.43 %
YTD
4.62 %
1 Year
5.59 %
3 Year
3.78 %
5 Year
2.44 %
10 Year
1.71 %
Since Inception
1.37 %
Inception Date
11/30/2006
Fact Sheet
Commentary
Environmental Accountability
As of 10/31/24
QTD
-0.80 %
YTD
11.78 %
1 Year
28.29 %
3 Year
5.14 %
5 Year
11.45 %
10 Year
#N/A %
Since Inception
12.24 %
Inception Date
12/31/2015
As of 10/31/24
QTD
-0.86 %
YTD
11.10 %
1 Year
27.35 %
3 Year
4.36 %
5 Year
10.62 %
10 Year
#N/A %
Since Inception
11.41 %
Inception Date
12/31/2015
As of 10/31/24
QTD
-0.70 %
YTD
20.33 %
1 Year
38.07 %
3 Year
8.12 %
5 Year
15.00 %
10 Year
12.75 %
Since Inception
14.13 %
Inception Date
12/31/2015
Fact Sheet
Commentary
Quantitative U.S. Large Cap Faith Based Equity
As of 10/31/24
QTD
-0.87 %
YTD
12.05 %
1 Year
32.34 %
3 Year
7.31 %
5 Year
12.63 %
10 Year
10.94 %
Since Inception
10.51 %
Inception Date
06/30/2008
As of 10/31/24
QTD
-0.93 %
YTD
11.37 %
1 Year
31.37 %
3 Year
6.51 %
5 Year
11.79 %
10 Year
10.12 %
Since Inception
9.69 %
Inception Date
06/30/2008
As of 10/31/24
QTD
-0.70 %
YTD
20.33 %
1 Year
38.07 %
3 Year
8.12 %
5 Year
15.00 %
10 Year
12.75 %
Since Inception
11.65 %
Inception Date
06/30/2008
Fact Sheet
Commentary
Women in Leadership U.S. Equity
As of 10/31/24
QTD
-0.57 %
YTD
15.21 %
1 Year
32.19 %
3 Year
6.70 %
5 Year
11.76 %
10 Year
#N/A %
Since Inception
12.09 %
Inception Date
12/31/2015
As of 10/31/24
QTD
-0.63 %
YTD
14.51 %
1 Year
31.23 %
3 Year
5.91 %
5 Year
10.93 %
10 Year
#N/A %
Since Inception
11.27 %
Inception Date
12/31/2015
As of 10/31/24
QTD
-0.70 %
YTD
20.33 %
1 Year
38.07 %
3 Year
8.12 %
5 Year
15.00 %
10 Year
12.75 %
Since Inception
14.13 %
Inception Date
12/31/2015
Fact Sheet
Commentary
Environmental Accountability Portfolio – Low Carbon
As of 10/31/24
QTD
-0.79 %
YTD
12.71 %
1 Year
30.06 %
3 Year
5.12 %
5 Year
11.48 %
10 Year
11.08 %
Since Inception
12.50 %
Inception Date
09/30/2013
As of 10/31/24
QTD
-0.85 %
YTD
12.02 %
1 Year
29.11 %
3 Year
4.34 %
5 Year
10.66 %
10 Year
10.26 %
Since Inception
11.67 %
Inception Date
09/30/2013
As of 10/31/24
QTD
-0.70 %
YTD
20.33 %
1 Year
38.07 %
3 Year
8.12 %
5 Year
15.00 %
10 Year
12.75 %
Since Inception
13.44 %
Inception Date
09/30/2013
Fact Sheet
Commentary
Environmental Accountability
As of 10/31/24
QTD
-0.80 %
YTD
11.78 %
1 Year
28.29 %
3 Year
5.14 %
5 Year
11.45 %
10 Year
#N/A %
Since Inception
12.24 %
Inception Date
12/31/2015
As of 10/31/24
QTD
-0.86 %
YTD
11.10 %
1 Year
27.35 %
3 Year
4.36 %
5 Year
10.62 %
10 Year
#N/A %
Since Inception
11.41 %
Inception Date
12/31/2015
As of 10/31/24
QTD
-0.70 %
YTD
20.33 %
1 Year
38.07 %
3 Year
8.12 %
5 Year
15.00 %
10 Year
12.75 %
Since Inception
14.13 %
Inception Date
12/31/2015
Fact Sheet
Commentary
Secured Options
As of 10/31/24
QTD
0.11 %
YTD
11.30 %
1 Year
16.90 %
3 Year
5.49 %
5 Year
7.95 %
10 Year
7.46 %
Since Inception
7.39 %
Inception Date
12/31/2003
As of 10/31/24
QTD
0.07 %
YTD
10.80 %
1 Year
16.27 %
3 Year
4.91 %
5 Year
7.30 %
10 Year
6.74 %
Since Inception
6.72 %
Inception Date
12/31/2003
As of 10/31/24
QTD
-0.50 %
YTD
12.99 %
1 Year
18.52 %
3 Year
4.61 %
5 Year
6.05 %
10 Year
6.39 %
Since Inception
5.70 %
Inception Date
12/31/2003
As of 10/31/24
QTD
-0.49 %
YTD
12.94 %
1 Year
17.95 %
3 Year
6.80 %
5 Year
8.58 %
10 Year
7.21 %
Since Inception
7.13 %
Inception Date
12/31/2003
Fact Sheet
Commentary
Global Secured Options
As of 10/31/24
QTD
-0.44 %
YTD
13.04 %
1 Year
22.51 %
3 Year
6.89 %
5 Year
8.41 %
10 Year
#N/A %
Since Inception
7.66 %
Inception Date
04/30/2017
As of 10/31/24
QTD
-0.49 %
YTD
12.53 %
1 Year
21.85 %
3 Year
6.31 %
5 Year
7.76 %
10 Year
#N/A %
Since Inception
6.96 %
Inception Date
04/30/2017
As of 10/31/24
QTD
-2.25 %
YTD
16.00 %
1 Year
32.79 %
3 Year
5.51 %
5 Year
11.08 %
10 Year
9.06 %
Since Inception
10.31 %
Inception Date
04/30/2017
Fact Sheet

This website is for informational purposes only and is not a solicitation for any product or service. GIM products are actively managed and their characteristics will vary. All investment has risk, including the risk of loss of principal. There can be no assurance that efforts to manage risk or to achieve any articulated investment objective will be successful. An investor should consider investment objectives, risks, charges and expenses carefully before investing. For additional information regarding risks and about the firm, please refer to Related Literature and Disclosures.

Performance quoted is past performance and is not a guarantee of future results. Products have fees that reduce their performance, indexes do not.

Glenmede Investment Management, LP claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

*Prior to 08/30/2022, this composite was known as the Quantitative U.S. Large Cap Socially Responsible Composite.

Investors cannot invest directly in an index.

The Bank of America Merrill Lynch 1-3 US Year Treasury Index is an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three year.

The Bloomberg Municipal Bond 1-10 Year Blend Index tracks tax-exempt Municipal General Obligation, Revenue, Insured, and Prerefunded bonds with a minimum $5 million par amount outstanding, issued as part of a transaction of at least $50 million, and with a remaining maturity from 1 up to (but not including) 12 years. The Index is unmanaged.

The Bloomberg US Aggregate Index is composed of securities from Bloomberg US Government/Corporate Bond Index, Mortgage-Backed Securities Index, and the Asset-Backed Securities Index. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. The Index is unmanaged.

The Bloomberg Intermediate Govt/Credit Index is the intermediate component of the Bloomberg US Government/Corporate Bond Index. Total return. The Index is unmanaged.

The CBOE Put/Write T-W Index is a benchmark index designed to track the performance of a hypothetical short put strategy. CBOE introduced the CBOE S&P 500 PutWrite T-W Index on July 3, 2014. The PWT Index replicates the methodology used to calculate the PUT Index, with one exception. That is, on each roll date the SPX puts are deemed to be sold at the Ptwap, a price equal to the time-weighted average of reported bid prices, of the selected SPX put option beginning at 11:30 a.m. ET and ending at 12:00 p.m. ET. Accordingly, Ptwap is used in place of the Pvwap on PWT roll dates. CBOE has not calculated a separate series of historical values for the PWT Index prior to July 3, 2014. Rather, historical values for the PWT Index prior to July 3, 2014, may be considered the same as PUT Index values. The Index is unmanaged.

The FTSE 3 Month US T Bill Index Series is intended to track the daily performance of 3 month US Treasury bills. The indexes are designed to operate as a reference rate for a series of funds. The Index is unmanaged.

The ICE BofA 1 to 3 Year Govt/Agency Index total return comprises price appreciation/depreciation and income as a percentage of the original investment. The Index is market value weighted and is designed to measure the performance of U.S. dollar-denominated, fixed rate securities with minimum term to maturity greater than one year and less than or equal to three years. The Index is unmanaged.

The MSCI All Country World captures large and mid-cap representation across 23 Developed Markets (DM) and 23 Emerging Markets (EM) countries. With 2,480 constituents, the index covers approximately 85% of the global investable equity opportunity set. The Index is unmanaged.

The MSCI World ex US Index is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the US. The MSCI World ex US Index consists of the following 22 developed market country indices: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. The Index is unmanaged.

The S&P 500 Index consists of 500 widely held common stocks. This unmanaged Index is a total return index with dividends reinvested.

The Russell 1000 Index is an unmanaged, market value weighted index, which measures performance of the largest 1,000 companies in the market.

The Russell 1000 Growth Index is an unmanaged, market value weighted index, which measures performance of the largest 1,000 companies in the market. Returns include the reinvestment of dividends and other income.

The Russell 1000 Value Index is an unmanaged, market value weighted index, which measures the performance of those 1,000 largest companies in the Russell 3000 Index with lower price-to-book ratios and lower forecasted growth values.

The Russell 2000 Index is an unmanaged, market value weighted index, which measures performance of the 2,000 companies that are between the1,000th and 3,000th largest in the market.

The Russell 3000 Index is an unmanaged market value weighted index with dividends reinvested, which measures performance of the 3,000 largest companies in the market.